Que, are CEO's learning how to do "analyst speak?"
BRCD met lowered earnings estimates. In a normal world lower would be still crap. In the world of perma-bulls, crap turns into fertilizer.
BRCD's CEO had some pretty positive comments under the circumstances:
>> Greg Reyes, the company's chairman and chief financial officer, said in a statement, "Considering the current difficult economic environment for technology companies, the second quarter was a period of significant achievement for Brocade. We are pleased that we met the expectations that we set out in April, and we believe that the second quarter was the low water mark for our business. We are now seeing signs that IT budgets may be thawing..." <<
IT budgets thawing? This man belongs on Wall Street. I know Johnny Q and you know what you are doing, but watch out for "those that don't." "Those that don't" could run this stock up even though it would be for the wrong reasons.
Keep an eagle eye out and don't let'em get your profits.
I'm going to watch the tape on this one. It bounced off its low in after-hours rather quickly, then settled down. I've done well shorting this one before, I'd like to keep that record intact.
Charts looking good for a bullish trend reversal on LSI, anyone follow this one? Any comments?
Thanks in advance,
dabum |
